FDIC Official Signs and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC's Name or Logo

Federal Register / Vol. 89, No. 204 / Tuesday, October 22, 2024 / Rules and Regulations 84261 1 12 U.S.C. 1828(a). that is specific to that covered bank and appropriate for its individual size, risk profile, activities, and complexity, including the complexity of its organizational and legal entity structure. When developing and maintaining its recovery plan, each covered bank should appropriately consider both financial risk and non-financial risk (including operational and strategic risk). B. Elements of recovery plan. A recovery plan under paragraph II.A. of this appendix should include the following elements:

1. Overview of covered bank. A recovery plan should describe the covered bank’s overall organizational and legal entity structure, including its material entities, critical operations, core business lines, and core management information systems. The plan should describe interconnections and interdependencies: (i) Across business lines within the covered bank; (ii) With affiliates in a bank holding company structure; (iii) Between a covered bank and its foreign subsidiaries; and (iv) With critical third parties.
2. Triggers. A recovery plan should identify financial triggers and non-financial triggers that appropriately reflect the covered bank’s particular vulnerabilities.
3. Options for recovery. A recovery plan should identify a wide range of credible options that a covered bank could undertake to restore financial strength and viability, thereby allowing the bank to continue to operate as a going concern and to avoid liquidation or resolution. A recovery plan should explain how the covered bank would carry out each option and describe the timing required for carrying out each option. The recovery plan should specifically identify the recovery options that require regulatory or legal approval.
4. Impact assessments. For each recovery option, a covered bank should assess and describe how the option would affect the covered bank. This impact assessment and description should specify the procedures the covered bank would use to maintain the financial strength and viability of its material entities, critical operations, and core business lines for each recovery option. For each option, the recovery plan’s impact assessment should address the following: a. The effect on the covered bank’s capital, liquidity, funding, and profitability; b. The effect on the covered bank’s material entities, critical operations, and core business lines, including reputational impact; c. The effect on the covered bank’s risk profile as a result of changes to its financial risk and non-financial risk; and d. Any legal or market impediment or regulatory requirement that must be addressed or satisfied in order to implement the option.
5. Escalation procedures. A recovery plan should clearly outline the process for escalating decision-making to senior management or the board of directors (or an appropriate committee of the board of directors), as appropriate, in response to the breach of any trigger. The recovery plan should also identify the departments and persons responsible for executing the decisions of senior management or the board of directors (or an appropriate committee of the board of directors).
6. Management reports. A recovery plan should require reports that provide senior management or the board of directors (or an appropriate committee of the board of directors) with sufficient data and information to make timely decisions regarding the appropriate actions necessary to respond to the breach of a trigger.
7. Communication procedures. A recovery plan should provide that the covered bank notify the OCC of any significant breach of a trigger and any action taken or to be taken in response to such breach and should explain the process for deciding when a breach of a trigger is significant. A recovery plan also should address when and how the covered bank will notify persons within the organization and other external parties of its action under the recovery plan. The recovery plan should specifically identify how the covered bank will obtain required regulatory or legal approvals.
8. Other information. A recovery plan should include any other information that the OCC communicates in writing directly to the covered bank regarding the covered bank’s recovery plan. C. Relationship to other processes; coordination with other plans. The covered bank should integrate its recovery plan into its risk governance functions. The covered bank also should align its recovery plan with its other plans, such as its strategic; operational (including business continuity and resilience program); contingency; capital (including stress testing); liquidity; and resolution planning. The covered bank’s recovery plan should be specific to that covered bank. The covered bank also should coordinate its recovery plan with any recovery and resolution planning efforts by the covered bank’s holding company, so that the plans are consistent with and do not contradict each other. D. Testing. Each covered bank should test its recovery plan periodically but not less than annually and following any significant changes to the recovery plan made in response to a material event. Testing should validate the effectiveness of the recovery plan, including by considering each element set forth in paragraph II.B. of this appendix, and should be appropriate for the bank’s individual size, risk profile, activities, and complexity, including the complexity of its organizational and legal entity structure. Each covered bank should revise its recovery plan as appropriate following completion of testing.

Michael J. Hsu, Acting Comptroller of the Currency. [FR Doc. 2024–24402 Filed 10–21–24; 8:45 am] BILLING CODE 4810–33–P FEDERAL DEPOSIT INSURANCE CORPORATION 12 CFR Part 328 RIN 3064–AF26 FDIC Official Signs and Advertising Requirements, False Advertising, Misrepresentation of Insured Status, and Misuse of the FDIC’s Name or Logo AGENCY: Federal Deposit Insurance Corporation (FDIC). ACTION: Final rule; delay of compliance date. SUMMARY: On December 20, 2023, the FDIC adopted a final rule that, among other things, amended the FDIC’s sign and advertising requirements for insured depository institutions (IDIs). The amendments made by the final rule took effect on April 1, 2024; however, full compliance with the amendments was extended to January 1, 2025. The FDIC is delaying the compliance date for the new sign and advertising requirements for IDIs in the final rule to May 1, 2025. This delay will provide additional opportunity for IDIs to establish processes and systems, and make technological updates, necessary to implement the new regulatory requirements. DATES: The compliance date for the amendments to subpart A of 12 CFR part 328 in the final rule published at 89 FR 3504 on January 18, 2024, is delayed to May 1, 2025. FOR FURTHER INFORMATION CONTACT: Division of Depositor and Consumer Protection: Luke H. Brown, Associate Director, 202–898–3842, LuBrown@ FDIC.gov; Meron Wondwosen, Chief, Supervisory Policy, 202–898–7211, MeWondwosen@FDIC.gov; Edward J. Hof, Senior Policy Analyst, 202–898– 7213, EdwHof@FDIC.gov. Legal Division: Chantal Hernandez, Counsel, 202–898–7388, ChHernandez@ FDIC.gov; Shane Bogusz, Attorney, 202– 898–6571, SBogusz@FDIC.gov. SUPPLEMENTARY INFORMATION: On December 20, 2023, the FDIC Board of Directors adopted a final rule revising the sign and advertising regulations implementing section 18(a) of the Federal Deposit Insurance Act.1 On January 18, 2024 (89 FR 3504), the final rule was published in the Federal Register. The final rule became effective on April 1, 2024, and required full compliance with the rule by January 1, 2025. Based upon feedback from IDIs VerDate Sep<11>2014 16:12 Oct 21, 2024 Jkt 265001 PO 00000 Frm 00007 Fmt 4700 Sfmt 4700 E:\FR\FM\22OCR1.SGM 22OCR1 ddrumheller on DSK120RN23PROD with RULES1

84262 Federal Register / Vol. 89, No. 204 / Tuesday, October 22, 2024 / Rules and Regulations 2https://www.fdic.gov/deposit-insurance/ questions-and-answers-related-fdics-part-328-final￾rule. and other banking industry participants, the FDIC understands that some IDIs would find it beneficial to have additional time beyond the January 1, 2025, compliance date to implement the new regulatory requirements under subpart A of 12 CFR part 328. In particular, some IDIs have reported they continue to update online systems and platforms, and have requested additional time to meet the new requirements under subpart A. To provide additional opportunity for IDIs to put in place processes and systems, and make technological updates, the FDIC is delaying the compliance date for amendments to subpart A of 12 CFR part 328 from January 1, 2025, to May 1, 2025. The compliance date for the final rule amendments to subpart B of 12 CFR part 328 remains January 1, 2025. The FDIC has also received a number of questions from industry participants regarding the application of the new requirements. In response, the FDIC has published two sets of ‘‘Questions and Answers’’ 2 addressing certain issues raised by industry participants. The FDIC has continued to receive requests for additional clarity. The FDIC will continue to evaluate questions that have been received and will endeavor to make any additional potential ‘‘Questions and Answers’’ publicly available by November 30, 2024, to facilitate effective compliance by the May 1, 2025, compliance date. Federal Deposit Insurance Corporation. By order of the Board of Directors. Dated at Washington, DC, on October 17, 2024. James P. Sheesley, Assistant Executive Secretary. [FR Doc. 2024–24433 Filed 10–21–24; 8:45 am] BILLING CODE 6714–01–P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration 14 CFR Part 39 [Docket No. FAA–2024–1889; Project Identifier MCAI–2024–00134–T; Amendment 39–22858; AD 2024–19–16] RIN 2120–AA64 Airworthiness Directives; Deutsche Aircraft GmbH (Type Certificate Previously Held by 328 Support Services GmbH; AvCraft Aerospace GmbH; Fairchild Dornier GmbH; Dornier Luftfahrt GmbH) Airplanes AGENCY: Federal Aviation Administration (FAA), DOT. ACTION: Final rule. SUMMARY: The FAA is adopting a new airworthiness directive (AD) for all Deutsche Aircraft GmbH Model 328–100 and 328–300 airplanes. This AD was prompted by reports of a broken attachment eyebolt in a Collins Aerospace JB6 Commuter Class passenger seat. This AD requires a one￾time detailed inspection of each affected part, and applicable corrective actions, and limits the installation of affected parts, as specified in a European Union Aviation Safety Agency (EASA) AD, which is proposed for incorporation by reference (IBR). The FAA is issuing this AD to address the unsafe condition on these products. DATES: This AD is effective November 26, 2024. The Director of the Federal Register approved the incorporation by reference of a certain publication listed in this AD as of November 26, 2024. ADDRESSES: AD Docket: You may examine the AD docket at regulations.gov under Docket No. FAA–2024–1889; or in person at Docket Operations between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. The AD docket contains this final rule, the mandatory continuing airworthiness information (MCAI), any comments received, and other information. The address for Docket Operations is U.S. Department of Transportation, Docket Operations, M– 30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue SE, Washington, DC 20590. Material Incorporated by Reference: • For EASA material identified in this AD, contact EASA, Konrad-Adenauer￾Ufer 3, 50668 Cologne, Germany; telephone +49 221 8999 000; email ADs@easa.europa.eu; website easa.europa.eu. You may find this material on the EASA website at ad.easa.europa.eu. • You may view this material at the FAA, Airworthiness Products Section, Operational Safety Branch, 2200 South 216th St., Des Moines, WA. For information on the availability of this material at the FAA, call 206–231–3195. It is also available at regulations.gov under Docket No. FAA–2024–1889. FOR FURTHER INFORMATION CONTACT: Todd Thompson, Aviation Safety Engineer, FAA, 1600 Stewart Avenue, Suite 410, Westbury, NY 11590; telephone 206–231–3228; email todd.thompson@faa.gov. SUPPLEMENTARY INFORMATION: Background The FAA issued a notice of proposed rulemaking (NPRM) to amend 14 CFR part 39 by adding an AD that would apply to all Deutsche Aircraft GmbH Model 328–100 and 328–300 airplanes. The NPRM published in the Federal Register on July 17, 2024 (89 FR 58089). The NPRM was prompted by AD 2024– 0051, dated February 23, 2024, issued by EASA, which is the Technical Agent for the Member States of the European Union (EASA AD 2024–0051) (also referred to as the MCAI). The MCAI states there have been reports of a broken attachment eyebolt in a Collins Aerospace JB6 Commuter Class passenger seat. The eyebolt is the connection between the reclining mechanism and the seat structure and connects the seat belt to the seat structure. Broken attachment eyebolts, if not detected and corrected, could prevent the correct operation of the safety belts, possibly resulting in injuries to seat occupants. In the NPRM, the FAA proposed to require a one-time detailed inspection of each affected part, and applicable corrective actions, and to limit the installation of affected parts, as specified in EASA AD 2024–0051. The FAA is issuing this AD to address the unsafe condition on these products. You may examine the MCAI in the AD docket at regulations.gov under Docket No. FAA–2024–1889. Discussion of Final Airworthiness Directive Comments The FAA received no comments on the NPRM or on the determination of the cost to the public. Conclusion This product has been approved by the aviation authority of another country and is approved for operation in the United States. Pursuant to the FAA’s bilateral agreement with this State of Design Authority, it has notified the VerDate Sep<11>2014 16:12 Oct 21, 2024 Jkt 265001 PO 00000 Frm 00008 Fmt 4700 Sfmt 4700 E:\FR\FM\22OCR1.SGM 22OCR1 ddrumheller on DSK120RN23PROD with RULES1